Sales Target

Automakers usually provide high forecasts to their supply chain, while suppliers make their own judgments based on the competitiveness of the vehicle models and the operating results of the car companies.

Li Auto's management believes China's NEV penetration will reach 90 percent by 2028, when it will need to sell at least 3 million vehicles annually if it is to become one of the top five players, according to local media.

Zeekr's three current models target niche segments, while three new models to be launched this year and next will target the mass market.

Li Auto's direct offline stores will increase to more than 800 next year, more than doubling the current number, according to local media.

Nio has given its supply chain a full-year sales forecast of 240,000 units, according to local media.

Xpeng's Hong Kong-traded shares rose more than 14 percent to HK$51.80 at press time, giving it a 30 percent gain for the week.

GAC Aion sold 271,156 vehicles for the full year 2022, and the latest target implies an 84.4 percent increase.

Li Auto finished the first half of the year with more than 130,000 units sold and does not have any ability to sell 400,000 vehicles for the full year, its CEO said.

The latest target means that in the second half of the year, Li Auto will need to deliver an average of about 45,000 units per month.

Li Auto aims to reach annual sales of 1.6 million vehicles and annual revenue of RMB 500 billion by 2025, its CEO said.